Point72 Asset Management L.P. Acquires 315,008 Shares of Sigma Lithium Co. (NASDAQ:SGML)

Point72 Asset Management L.P. boosted its position in shares of Sigma Lithium Co. (NASDAQ:SGML - Free Report) by 349.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 405,274 shares of the company's stock after purchasing an additional 315,008 shares during the period. Point72 Asset Management L.P. owned 0.36% of Sigma Lithium worth $4,547,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SGML. Aquatic Capital Management LLC purchased a new position in shares of Sigma Lithium during the 4th quarter valued at $27,000. U S Global Investors Inc. grew its holdings in shares of Sigma Lithium by 233.3% during the 4th quarter. U S Global Investors Inc. now owns 10,000 shares of the company's stock valued at $112,000 after acquiring an additional 7,000 shares in the last quarter. Pictet Asset Management Holding SA purchased a new position in shares of Sigma Lithium during the 4th quarter valued at $142,000. Handelsbanken Fonder AB purchased a new position in shares of Sigma Lithium during the 4th quarter valued at $160,000. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Sigma Lithium in the 4th quarter valued at $185,000. 64.86% of the stock is currently owned by hedge funds and other institutional investors.

Sigma Lithium Stock Performance

Shares of SGML traded down $0.04 during trading hours on Friday, reaching $5.90. 1,585,745 shares of the company traded hands, compared to its average volume of 794,764. Sigma Lithium Co. has a 1-year low of $5.23 and a 1-year high of $17.30. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.72 and a current ratio of 0.84. The stock has a market cap of $656.55 million, a P/E ratio of -12.29 and a beta of 0.30. The stock's fifty day moving average is $8.33 and its 200 day moving average is $10.68.

Sigma Lithium (NASDAQ:SGML - Get Free Report) last posted its quarterly earnings results on Monday, March 31st. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.14). The business had revenue of $46.70 million during the quarter, compared to analyst estimates of $71.77 million. Sigma Lithium had a negative return on equity of 38.04% and a negative net margin of 36.85%. Equities research analysts anticipate that Sigma Lithium Co. will post -0.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Sigma Lithium from a "sell" rating to a "hold" rating in a research note on Thursday.

Sigma Lithium Profile

Sigma Lithium Corporation engages in the exploration and development of lithium deposits in Brazil. It holds a 100% interest in the Grota do Cirilo, Genipapo, Santa Clara, and São José properties comprising 29 mineral rights covering an area of approximately 185 square kilometers located in the Araçuaí and Itinga regions of the state of Minas Gerais, Brazil.